Anyone know how much income tax a newly minted millionaire or billionaire in Communist China pays vs one in the “capitalist” USA/California?
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You’ll also have to tolerate a Chinese Communist party cell operating inside the management of your company, a revived and resurgent business practice these days:https://www.reuters.com/article/us-china-congress-companies/china-says-foreign-firms-welcome-benefits-from-internal-communist-party-cells-idUSKBN1CO0HQ …
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But more generally, I’d say that California has a highly progressive and volatile income tax to compensate for a feudal and inheritable property tax structure. This is what the voters of this state chose.
End of conversation
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